steady state problem of a non stasionary system
Posted: Tue Jan 29, 2013 2:26 amDear all:
my equation system is writen in non stasionary form.I carefully follow the example: fs2000ns and its steady state file which uses Y_obs and P_obs with trend and as non stasionary observable variable and Y_obs and P_obs are declared as unit_root_vars P_obs Y_obs also with trend in fs2000ns file and Y_obs=1 and P_obs=1 in its steady state file.
I have four observable variable Y_obs(output with trend) and I_obs(investment with trend) c(consumption divided by output,so no trend) q(house price devided by output so no trend). I set Y_obs=1 and I_obs=1 in my steady state file.
and my data examination shows that oly c contains a unit root.
Now I have two problem:
1.how should I declare in the varobs block ? should I declare Y_obs and I_obs and c all as unit_root_vars ?
2.run rbc_5 the error message is that The steadystate file did not compute the steady state.
the error shows that Residuals of the static equations:
Equation number 9 : -0.0085362
Equation number 10 : -0.0085362
these two equations are:
Y_obs/Y_obs(-1)=da*y/y(-1);
I_obs/I_obs(-1)=da*y/y(-1);
since I set da=exp(x_a+e_a+MU_a) and MU_a=0.0085 and x_a=0 and e_a=0 at steady state I really don't know what to do.
can anyone give some suggestion?
many thanks!
my equation system is writen in non stasionary form.I carefully follow the example: fs2000ns and its steady state file which uses Y_obs and P_obs with trend and as non stasionary observable variable and Y_obs and P_obs are declared as unit_root_vars P_obs Y_obs also with trend in fs2000ns file and Y_obs=1 and P_obs=1 in its steady state file.
I have four observable variable Y_obs(output with trend) and I_obs(investment with trend) c(consumption divided by output,so no trend) q(house price devided by output so no trend). I set Y_obs=1 and I_obs=1 in my steady state file.
and my data examination shows that oly c contains a unit root.
Now I have two problem:
1.how should I declare in the varobs block ? should I declare Y_obs and I_obs and c all as unit_root_vars ?
2.run rbc_5 the error message is that The steadystate file did not compute the steady state.
the error shows that Residuals of the static equations:
Equation number 9 : -0.0085362
Equation number 10 : -0.0085362
these two equations are:
Y_obs/Y_obs(-1)=da*y/y(-1);
I_obs/I_obs(-1)=da*y/y(-1);
since I set da=exp(x_a+e_a+MU_a) and MU_a=0.0085 and x_a=0 and e_a=0 at steady state I really don't know what to do.
can anyone give some suggestion?
many thanks!